Ignore Litigation at Your Peril

Remember Pharma Bro? Marin Shkreli is his real name. He was the founder of Turing Pharmaceuticals and gained notoriety by dramatically increasing the price of Daraprim, a drug used to treat toxoplasmosis. His business dealings earned him convictions on several federal securities violations and a seven year prison sentence. It also earned him a forfeiture of $7.3 million in assets.

In addition to the criminal penalties, Shkreli was sued by he Federal Trade Commission as well as the Ohio attorney general. The basis of the lawsuit focused on the anti-competitive conduct in which Shkreli engaged, trying to boost profits.

Shkreli chose to ignore the litigation and opted not to appear for the trial in just recently.

Shkreli was ordered to pay $65 million and he was banned for life from further participation in the pharmaceutical industry.

Never, ever ignore a lawsuit. Don’t be like Pharma Bro.

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